Question 1 1. In SWOT analysis, strengths and weaknesses are most easily identified by looking: 1.

Outside the firm from a consultant's perspective. 2. At the firm's competition. 3. Inside the firm at its specific resources.

4. At the firm as a potential customer.

1 points Question 2 1. Which of the following does not represent a possible opportunity for a manufacturing firm as a part of SWOT analysis?

1. Demographic trends.

2. A patent developed by another firm for manufacturing a product.

3. Technological advances in the industry.

4. Changes in regulation of the industry.

2 points Question 3 1. Both cost leadership and differentiated firms can improve on execution through: 1. Cost cutting and downsizing of personnel. 2. . Improved automation and a higher output of products.

3. Benchmarking and total quality management.

4. None of the above.

1 points Question 4 1. The main objective of value chain analysis is to identify stages of the value chain where the firm can:

1. Outsource production to other producers.

2. Increase value to the customer or reduce cost in some way.

3. Improve efficiency

4. Justify increases in the price of the product or service.

2 points Question 5 1. Value activities can best be defined as:

1. Activities that firms in the industry must perform in the process of closing down a product line, including customer service.

2. Activities that firms in the industry must perform to improve a product 3. Activities that firms in the industry must perform in the process of converting raw material to final product, including customer service.

4. Activities that firms in the industry must perform in the process of considering new products, including customer service.

2 points Question 6 1. When performing value chain analysis, which of the following should a firm take into account?

1. Opportunities to reduce cost.

2. All answer choices are correct

3. The decision to enter or leave an activity in the value chain.

4. The firm's competitive position.

1 points Question 7 1. Which one of the following is not usually included as a perspective of the balanced scorecard?

1. Learning and Growth. 2. Tax Reporting.

3. Customer Satisfaction.

4. Financial Performance.

1 points Question 8 1. The cause and effect relationships among critical success factors are best captured in:

1. Business intelligence 2. The value chain

3. The strategy map

4. The balanced scorecard

2 points Question 9 1. Which of the following is not a key benefit of the balanced scorecard (BSC)?

1. It provides a framework for the firm to achieve a desired organizational change in strategy.

2. It provides an objective basis for determining each manager's compensation and advancement. 3. It provides a means for implementing strategy.

4. It provides a baseline for how a firm's financial operations compare to competition within the industry.